Italtec Ghana Ltd. Suppor ting Small Scale Miners with state of the art Infrastructure & Knowhow

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2 Italtec Ghana Ltd. Suppor ting Small Scale Miners with state of the art Infrastructure & Knowhow In an exclusive Mr. Kwame Ofei, Chairman & CEO - Italtec Ghana Ltd. speaks about the and Mining business in Ghana and adds the equity that ITELTEC enjoys in Ghana in terms of developing the small and medium Mining companies by providing them with the right Infrastructure, tools and know how. Excerpts: Ghana is an important producing economy in the world. How has been the performance of ITALTEC Ghana Ltd. in terms of Mining deposits in the last one year and what does the future look like? The performance of Italtec in the mining sector in the past year has been indirect because we are not currently mining on our own field but we support several small scale miners with the required Equipments and provide the needed infrastructure to them as support on which we leverage our purchasing of gold. We see the future in the near term as very interesting indeed because we have directed more attention on promoting and assisting small scale ROCK MINING, which has a very feasible prospect. Italtec sees a very positive outlook in terms of gold sales output. In the near future, we intend to begin our own 89 square kilometers gold mine project which we are very hopeful will increase our current market share of the gold Production and export industry. Tell us something about the technologically advanced equipments and infrastructure that is being adopted in ITALTEC Ghana Ltd. and how has this benefited the production process in ITALTEC? The use of technologically advanced Equipments in our support services has helped increase the gold production of the various small scale mines who employ our assistance in their mining operations. The further provision, deployment and delivery of the necessary infrastructure has also helped to a great degree pinpoint with accuracy the nearness and exact areas of gold deposits to be mined. I have mentioned earlier that we are currently not mining, we Kwame Ofei Chairman & CEO - Italtec Ghana Ltd. 26

3 however will enter into the mining operation in the second quarter of Ghana has an overall strong position on the world mining scale. Ghana which used to be called the Coast during the era of colonialism is currently re positioning itself strategically to become not only a Primary gold producer but also a value added market. The current Government has major plans to provide the needed infrastructure to assist Ghanaian Jewelers and smith to take up the trade seriously and make the nation a good destination for jewelers and value additions. Tell us something about the company's important global buyers and how has your experience been in terms of developing the clientele for ITALTEC? Our clients are number one in terms of our priority, we have clients across the globe starting from Dubai, India, the US, Turkey, Italy and as far away as Australia. We seek to develop a network of clients by introducing the investment in the gold mining sector to most of our clients. This support system guarantees a continuation of supplies from many small scale miners who enter into our service assistance program. We hope to get as many more clients to understand that the production of gold can only increase the output of gold if they assist in increasing our service delivery to the miner. The Mining and development sector in Ghana has largely contributed to the social and economic benefits to the people of Ghana in general. What has been ITALTEC's role in engaging on the social responsibility front? The Social responsibility role of ITALTEC in the mining sector has been our continued support to several small scale mines by supporting them and providing potable drinking water to some of the communities where the miners operate, further more we have also interacted with many mine owners and impressed upon them to assist the communities where they mine their gold by injecting capital into the basic educational infrastructure. We have also supported some mines which engaged in tree planting exercise in some communities. This inures our corporate social responsibility. Name some important suggestions to the International Banks that will help them associate with the Mining and exploration of sector in Ghana better and what is it that you are looking at from International banks in the near future for Ghana segment? I will say the single most important factor and input for gold mines in Ghana is the investment in machinery. Most banks buy and stock gold in their vault to support their trading activity and also to serve as solid fall back of their capital. I suggest that International banks extend support to Ghanaian mines in the form of indirect investment by value metals like Platinum and creating a pool of Machinery inventory which will serve to support interesting mining companies in 27

4 Ghana. Italtec in association with the Exporters association of Ghana can be a front for such a laudable idea. We can Guarantee any International bank using our collective export capacity to leverage any such investment in Machinery and work out a payment program in to the International financial institutions which will finance such pool inventory of Equipments. The escalating prices are invariably acting as an advantage for other precious metals like platinum and palladium. Your opinion on this and according to you what are the different methods to be adopted to increase demand in the consumer markets? IN MY OPINION there is no correlation between the price of gold, a Genuine base Precious metal and value added metals like Palladium, Platinum etc, has its own dynamic nature driven by market forces due to its extra uses expanded by modern technological advancement. While other minerals which are mostly Engineered have a purely narrow usage driven by their particular demand cycle. I do not think that any particular company, for that matter is able to activate a consumer demand to drive consumer market in this industry However it is possible to add value within a reasonable price range which may be a function to trigger consumer interest. The overall consumer market is mostly driven by competitive paper currency such as the United States dollars which triggers the demand for gold when the dollar runs into trouble. There are other African economies who are also Mining considerable deposits. Do you forsee a consortium or cooperation of sorts that can be formed between the various Mining economies of the African continent? If yes what will be the advantages on the same? It will be a very positive drive for the market if other African countries can harness their ability to collectively form a strong pool of mines. The Synergy can create a huge upsurge in the price of gold, however such a cartel appears almost impossible, looking at various factors on the market. The International Monetary fund is a big stake holder in this industry and the International Prime Banks are also equal stake holders, a collective African Mine synergy won t be allowed by such huge institutions at least for the time being. It is a laudable idea though, but is too Ambitious a project to be achieved in the near term. What are the future plans of ITALTEC Ghana Ltd. in terms of expansion to newer buying markets? ITALTEC is looking to expand its market share, this will be done gradually when we begin our mining operation in the second quarter of 2018, we look to expand into the European Union and also expand into value added products such as the minting of coins affordably which may rival the current electronic crypto currencies. We hope to trade such coins and mini gold bars electronically to serve as Genuine reserve currencies for interested investors as a back up to electronic trade. 28

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6 I taltec Ghana Limited is wholly Ghanaian registered operating company under the Ghanaian Companies Code (Act 197) of Its primary business is the purchase and export of. Italtec Ghana Limited started from a humble beginning in 1993 having been registered as an import and export business. The company's director and current 100% shareholder is Mr. Kwame Ofei. Italtec employs the concept of buying centres to guarantee a steady stream of gold supplies from purchases on a daily basis. The company currently operates 17 wholly established gold buying centres in all the major mining towns, fully equipped with state-of the-art water density specific gravity weighing scales. Italtec Ghana Limited operates on the following terms of contracts which are very simple:! We supply gold on an annual renewable contract revolving.! See our website for details : Italtec Ghana Limited's method of business uses the service technique which employs the distribution and servicing of mining equipment, power 30 generating sets, and supplies of mining equipment The Program assures the delivery of such mining equipment to the various mines and workers under our trade rule by which we supply them with sluice boxes, washing tables, including standby power generating sets as well as deep-well water pump to guarantee them operating efficiency. All these are done and leveraged against the continuous supply of gold. This method also guarantees us the right of purchase and protection from all the participating mines who work in our service and support program. is assayed in all our purchasing centres, we supply smelting furnaces made of gas and electric blowers with smelting crucibles weighing between 1 to 2 kilograms per smelting pot. The smelted gold is weighed in the Mettler Toledo specific gravity weighing scales which method has a relative accuracy of +/-0.005% making it the best field testing method. Export Markets Italtec Ghana Limited ships gold to the following countries: - UAE (Principally Dubai) - Italy - Australia - Turkey - India - USA Number of Employees: Administrative Personnel - 10 Based in the Head Office-Accra Field Personnel - various - 40 in various mining villages Buying centres - 17 (Sub Agents 10 per each centre) 170 (Totalling 187 workers) (fully equipped with state-of-the-art water density specific gravity Swiss weighing scales. Terms of Contract: Our terms of contract is very simple one is required to open a metal account and wire cash into the account from which gold is supplied on a revolving 12 months contract. (Go to our website for all other information you might require). Contact Address / Location No.10 Anum Yemoh Loop. East Lagon, Accra / Ghana Direction : Follow sign post Opposite the Mensvic Grand Hotel, off Lagos Avenue Office: Cell: SKYPE: ANAS641 ltaltecgh@yahoo.com info@italtecgold.com Website :